The "What is Money?" Show

The Ultimate Macro Framework with Raoul Pal (WiM078)

Episode Notes

Raoul Pal joins for me a mind-blowing exploration of global financial history, the emergence of the exponential age, Bitcoin, the metaverse, and a look into the future of humanity.

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00:00:00 “What is Money?” Intro
00:00:08 “The Sun Never Sets on the British Empire”
00:06:22 The Weimar Hyperinflation
00:08:56 World War II and The Baby Boomers
00:13:29 Pax Americana and Rules-Based Global Order
00:17:00 The Largest Demand Shock Ever Seen
00:22:22 Economic Disparity Driving Political Polarization
00:25:28 Reagan, Thatcher, and Unintended Consequences
00:30:32 Financialization of the 1980s
00:34:46 Introduction of the WTO
00:39:45 NYDIG
00:40:53 The Dark Side of the “Exorbitant Privilege”
00:42:47 Central Bank Policy Tools and “Managing” the Business Cycle
00:44:34 The 1997 Asian Financial Crisis
00:49:35 The 2001 Dotcom Crisis
00:50:51 Collapse in Labor Force Participation and Monetary Velocity
00:53:46 The 2008 Great Financial Crisis and QE Infinity
00:59:30 The Making of the Everything Bubble
01:04:20 The Rise of Digital, Populism, and Wealth Confiscation
01:09:54 The Fourth Turning and “The Pandemic”
01:15:47 Universal Underwriting by The Central Bank
01:19:14 The Unstoppable Truth of Demographics
01:25:39 Bitcoin and the Unreality of Currency Debasement
01:32:07 Lack of Segregation in Financial Instrument Property Rights
01:38:14 Possible Political Responses to the Impending Financial Crisis
01:41:25 Misaligned Incentives, Population Control, and The Exponential Age
01:44:54 Emergence of the Metaverse and Networked States
01:50:20 “The Game Is Not What You Want It To Be, The Game Is What It Is”
01:56:16 A World Running on Deflationary and Programmable Money
01:59:59 Digital Identity, “Capitalist UBI,” and Free Energy?
02:06:36 Where Does the Value Accrue in the Exponential Age?
02:13:27 The Possibility of Radical Life Extension
02:15:17 Change the Money, Change the World

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